Tuesday, 08 January 2019

Guatemala expels UN anti-corruption commission

Guatemala has unilaterally ended the mandate of the UN-sponsored International Commission against Impunity in Guatemala (CICIG), claiming it endangered national security and human rights, according to reports.

Foreign Minister Sandra Jovel reportedly announced on 7 January that CICIG, which had been investigating politicians including President Jimmy Morales for corruption, had 24 hours to leave the country.

Jovel said Morales would remain committed to fighting corruption. The president denies the allegations against him.

Credit Suisse settles RMBS misconduct allegations

Swiss bank Credit Suisse has settled allegations of misconduct over residential mortgage-backed securities (RMBS) from 2012 with the New York State Attorney General’s office.

Credit Suisse said in an emailed statement that it was pleased to have resolved this legacy RMBS-related matter but did not confirm the amount the bank has to pay.

In the original charges filed in November 2012, then-New York Attorney General Eric Schneiderman accused Credit Suisse of deceiving investors by misrepresenting the quality of loans underlying mortgage-backed securities it sold in 2006 and 2007, resulting in losses of approximately $11 billion.

In the press release, the PGR said it will seek to prosecute individuals charged in the US and other jurisdictions. The authority said that it has not received responses to formal information requests to authorities in countries including the UAE, UK, and US.